Smart Borrower Blog

Archive for January, 2011

Small Business Funds Poised for Release

Jan 26th, 2011 @ 8:06 PM by Amber Nelson

The $30 billion small business stimulus fund promised by President Obama in early 2010 is finally about to be unleashed for use by the nation’s smaller banks. According to a BusinessWeek.com article, banks have made an impressive showing in terms of applications for the new program. Small Business Lending Fund program director Jason Tepperman said […]

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Car Loan Rates Are The Lowest In Decades

Jan 24th, 2011 @ 10:57 AM by Debbie Dragon

The recovering auto industry is getting some relief in the way of low interest rates for car loans. Interest rates for car loans are currently near record lows which just may boost car sales and help to stimulate the much needed auto industry. According to bankrate.com, the latest weekly survey sent out to major banks […]

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Americans Are Getting Fiscally Fit, and It Shows

Jan 19th, 2011 @ 11:05 PM by Amber Nelson

It may have taken the Great Recession to break Americans out of their ‘pay as you go’ mentality, but they are starting to act more financially responsibly now. At least so say the latest reports from the Big Banks, according to a recent BusinessWeek article. Specifically, more American consumers are paying their bills on time, […]

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Federal Small Business Funding Starts Being Used In Michigan and North Carolina

Jan 17th, 2011 @ 10:54 AM by Debbie Dragon

The states of North Carolina and Michigan are the first to start getting money to lend to small businesses. The funds are coming from a new federal program that is part of the Small Business Jobs Act. The Act was signed into law by President Obama last September. The federal program plans to dish out […]

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2010 Foreclosures Reach 1 Million Mark

Jan 12th, 2011 @ 9:53 PM by Amber Nelson

Last year was a record-breaking year for home repossessions, with roughly 1.05 million mortgage borrowers losing their homes, according to real estate data firm RealtyTrac. That is up over 2009’s 918,000 foreclosures and it is the first time that figure has passed the million mark. By contrast, in 2005 there were only about 100,000 properties […]

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Consumer Borrowing Up in November

Jan 10th, 2011 @ 5:59 PM by Debbie Dragon

According to a report by the Federal Reserve released last week, during the month of November consumer credit rose for the second month in a row, up 0.7% from October. Leading the way was a jump in non-revolving credit, which rose by $5.6 billion to $1.61 trillion, mainly in the form of student loans. Another […]

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Glimmers of Hope All Over Small Business Market

Jan 5th, 2011 @ 2:46 PM by Amber Nelson

It may not be time to celebrate yet, but there are some exciting signs of life coming out of the small business lending world this week. And as small businesses are the largest creator of U.S. jobs, this can only be good news for the economy as a whole. Small businesses borrowed more money in […]

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Sallie Mae Acquires $27 Billion in Federal Student Loan Assets

Jan 3rd, 2011 @ 6:45 AM by Debbie Dragon

Sallie Mae announced today that they completed a deal last week with the Student Loan Corporation, owned by Citibank, to acquire $27 billion in guaranteed federal student loans as well as other related assets. Negotiations for the deal began back in September between the two companies and were finalized on December 31, 2010. With the […]

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